Economy

Sri Lanka to invite Russian investors to Colombo Port City

Published

1 week ago

April 2, 2026

The Sri Lankan government will this week make an invitation to the Russian Foreign Ministry for its investors to explore the possibility of investing in the Colombo Port City, which the Sri Lankan government is now trying to promote amongst international investors amidst the Middle Eastern turmoil.

Sources in the government told the Daily Mirror that Russia’s Deputy Foreign Minister Andrey Rudenko will arrive in the island on April 2 for high level discussions and both Russia and Sri Lanka will explore the opportunity of collaborating in several sectors.

This will include seeking cooperation in the economic, trade, cultural and political sectors. “The Russian Deputy Foreign Minister’s visit will not include discussions on fuel but it will be a political visit. We will look at several areas of cooperation including investments in the Colombo Port City and several other sectors,” the source said.

As the entire Gulf region remains volatile with the ongoing escalation of violence between Iran, Israel and the United States, the government is looking at promoting Sri Lanka as an ideal investment hub with its strategic location in the Indian Ocean and attracting investments into the already existing foreign projects.

Economy

Sri Lanka literacy hits record 97.4%, gender gap closes for first time

Published

3 hours ago

April 12, 2026

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Sri Lanka has achieved a historic education milestone, with literacy rising to 97.4% in 2024, up from 95.7% in 2012.

For the first time since 1881, the literacy gender gap has closed, with males at 97.9% and females at 97.0%.

Digital literacy has reached 67.6%, while computer literacy stands at 34.7%, highlighting Sri Lanka’s growing digital transformation.

Economy

$ 900 m in four months: Port City Colombo signals new investment era

Published

1 day ago

April 11, 2026

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From November 2025 to March, Port City Colombo secured approximately $ 900 million in investments, an almost unprecedented surge for a project that had seen gradual traction in its early years amid broader macroeconomic challenges. The timing is not accidental.

After a prolonged period marked by the Easter Sunday attacks, the global shock of the COVID-19 pandemic, and Sri Lanka’s economic collapse, the project remained largely in a holding pattern.

International marketing efforts began to gain momentum from late 2025 onwards, as conditions began to stabilise.

“The macro story had to align first,” Aluwihare explained. “You cannot market a country when the fundamentals are unstable. Now, we are seeing recovery, policy alignment, and growing confidence, and we are finally seeing the results.”

From real estate to a ring-fenced financial ecosystem

Port City Colombo’s most significant transformation has been conceptual rather than physical. Originally envisioned as a waterfront real estate development, it has evolved into a fully ring-fenced services export Special Economic Zone (SEZ), enabled by the Colombo Port City Economic Commission Act.

Economy

Sri Lanka’s Official Reserves fall 3.5%in March – CBSL

Published

3 days ago

April 9, 2026

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Sri Lanka’s Official Reserve Assets have decreased by 3.5% to USD 7,019 million in March 2026, according to the latest data of the Central Bank of Sri Lanka.

The CBSL states that the decrease is from USD 7,270 million reported in February 2026.

The CBSL further states that the figure for March includes the swap arrangement with the People’s Bank of China.